Utkarsh Small Finance Bank has informed the exchanges that RBI has granted its approval to Mirae Asset Mutual Fund, an existing shareholder to acquire in aggregate up to 9.95 per cent of the paid-up share capital or voting rights in the Bank. The approval is valid for a period of one year from the date of the RBI letter.
Aditya Birla Fashion and Retail Ltd has raised its shareholding in Goodview Fashion Private Limited, the entity that manufactures and sells ethnic couture fashion under “Tarun Tahiliani”, from 33.5 per cent to 51 per cent through secondary acquisition from the existing shareholders of GFPL. Pursuant to this transaction, from being an associate of the Company, GFPL has become a subsidiary of the company with effect from July 11.
Affle India has been granted another patent in the US, which was filed previously. The patent subject area is “Method and system for enabling an interaction between a user and a podcast”. This patent is related to the field of optimizing user engagements by enabling an interaction between a user and a podcast using a podcast interaction system based on machine learning. This grant fortifies our AI-driven contextual recommendations and the consumer platform optimisations spanning the entire consumers’ digital journey, including within live streams such as podcasts.
Tata Elxsi and global automation company Emerson have announced the inauguration of the Tata Elxsi + NI Mobility Innovation Centre (TENMIC) in Bengaluru. The modern centre aims to accelerate automotive innovation with cutting-edge systems, software solutions, and global automotive expertise.
The $24 billion JSW Group has entered into a triparty Memorandum of Understanding with MS Ramaiah Institute of Technology (MSRIT) and Sharika Smartec, wholly owned subsidiary of Sharika Enterprises to convert conventional power system into flexible power system through innovative solutions. This triparty collaboration will establish, at the MSRIT campus in Bengaluru, the JSW Center of Excellence (JSW-COE) for Smart Grid technologies.
ATC Telecom Infrastructure has converted ₹160 crore worth of optionally convertible debentures, issued by Vodafone Idea in lieu of payments, into equity, a regulatory filing said on Thursday. Debt-ridden telecom operator Vodafone Idea (VIL) had issued optionally convertible debentures (OCDs) worth ₹1,600 crore to ATC, as it failed to pay for rentals of mobile towers. ATC has already converted OCDs worth ₹1,440 crore into equity in March.
Punjab National Bank has signed a pact with Steel Authority of India to provide home loan, car loan and education loan to the latter’s employees at concessional rates.
RKN Enterprises, a part of Godrej Industries Group, on Thursday sold its stake in Godrej Properties and Godrej Agrovet to members of Godrej Industries Group for ₹1,652 crore as part of the Godrej family settlement announced in April. According to the block deal data available with the National Stock Exchange (NSE), RKN Enterprises offloaded 41.46 lakh shares or 2.16 per cent stake in Godrej Agrovet. The shares were sold at an average price of ₹800.05 apiece in a total deal of ₹331.70 crore. Additionally, RKN Enterprises also sold 39.86 lakh shares, amounting to a 1.43 per cent stake in Godrej Properties. The shares were disposed of at an average price of ₹3,313.90 apiece, taking the deal value to ₹1,320.90 crore.
Keystone Realtors Ltd has acquired 88-acre land near Mumbai for ₹91 crore to undertake plotted development. The Mumbai-based realty firm, which markets properties under Rustomjee brand, said in a regulatory filing that it has forayed into plotted development with the acquisition of around 88-acre land parcel in Kasara.
ixigo, owned by Le Travenues Technology Ltd, and AU Small Finance Bank have launched RuPay variant of their premium co-branded travel credit card, offering the customers UPI-based payments and rewards. The RuPay variant offers a range of features such as the facility to link RuPay credit card on UPI using any UPI payment app, a comprehensive insurance cover of up to ₹2 lakh, including personal accident insurance and permanent disability cover, and reward points on UPI transactions, ixigo said.
The board of Cyient , with respect to end to end turnkey ASIC semiconductor business, has granted inprinciple approval for the re-organisation of the business into a wholly owned subsidiary, which is to be incorporated. The board also authorised the management of the company to take all required steps including incorporation of such wholly owned subsidiary, appointment of advisors, valuers etc.
Oriental Foundry Private Ltd, a wholly owned subsidiary, of Oriental Rail Infrastructure, has secured order worth ₹432.16 crore for manufacture and supply of 1,200 BVCM-C Wagons.
Nodwin Gaming International Pte. Ltd, a wholly owned subsidiary of Nodwin Gaming Private Limited and a material subsidiary of Nazara Technologies Ltd acquired 52,683 shares in Freaks 4U Gaming GmbH worth ₹213 crore on Thursday. E-sport and gaming company Nodwin Gaming International Pte. Ltd. bought a 43.97 per cent stake in Freaks 4U, the company informed the exchanges. This takes Nodwin Gaming’s total holding in the company to 57 per cent, making it a subsidiary.
Time Medical International Ventures (India) Private Limited, a material Subsidiary of Fischer Medical Ventures, has made investment of ₹3.49 crore in Sascan Meditech Pvt Ltd, enganged in development of medical healthcare devices.
Adani Wilmar has entered into a Share Subscriptionand Share Purchase Agreement for taking a majority stake of 67 per cent in Omkar Chemical Industries Private Ltd, Gujarat, at an enterprise value of ₹56.25 crore. OCIPL is engaged in the business of manufacturing, formulating, processing, producing, making, buying, selling, re-selling, importing, exporting, distributing, supplying, in all types, forms (solid, liquid and gaseous) and of all kinds of chemicals and chemical compounds (organic and inorganic), gels, downstream ingredients and byproducts and their related preparations, articles and products.The acquisition is expected to be completed within 3-4 months.
Prakash Industries has informed the exchanges that subsequent to the grant of In-principle Stage-I approval on August 21, 2023, the Ministry of Environment, Forest and Climate Change, Government of India, has granted Final I Stage-II approval under the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980 for Bhaskarpara Commercial Coal Mine in Chhattisgarh. The supplies of coal from this mine shall provide stability to the company’s Integrated steel operations as well as result in significant cost reductions. Additionally, this being a commercial mine, it shall also boost the revenue and the profitability through sale of coal in the open market, it further said.
The National Company Law Tribunal (NCLT) on Thursday directed grounded carrier Go First to release four aircraft engines of Engine Lease Finance (ELF) BV. The counsel appearing for the resolution professional (RP) submitted that he has already started the process of returning one engine to the lessor. The RP submitted that he has no objection over the process of releasing the four aircraft. Headquartered in Shannon, Ireland, ELF is the world’s leading independent engine financing and leasing company. The NCLT has put the matter for further hearing on August 9, when other engine lessors may argue their case for return.
LT Foods has inaugurated a modern facility in the United Kingdom (UK) to revolutionise the rice market in the UK and meet the growing demand for authentic and premium rice and rice-based food products. To ensure consumers experience the finest quality of rice and rice-based food products from the trusted brands of LT Foods, the facility will house the latest technology.
Taneja Aerospace and Aviation (TAAL) has received an order from Hyderabad based Company for modification and Installation of full instrumentation with Telemetry System on 42B Helicopter (2 No.); and Non-invasive instrumentation on Kamov-31 (1 No) Helicopter and ALH Helicopter (1 No). The total basic order value is ₹5.80 crore to be executed till December, 2025.
Brigade Group has launched the latest residential tower, Cobalt, at its expansive 50-acre township, Brigade El Dorado, located in Karnataka Industrial Areas Development Board (KIADB) Aerospace Park. The overall project size is around 6.1 million square feet including residential, shopping, wellness, and entertainment facilities. Comprising 948 one-bedroom apartments, the company has pegged the potential revenue value at over ₹400 crore. The project is seamlessly designed to integrate contemporary living with the serenity of natural surroundings with over 40 acres of open spaces consisting of lush greenery and picturesque landscaping.
Bondada Engineering’s subsidiary — Bondada Managed Services — has received work orders from Reliance Projects & Property Management Services. The orders are for TG Main SP O&M Contract Facility, TG Main SP O&M Contract Fiber & FTTx and TG Main SP O&M Contract Tower. The company has received orders worth ₹316.82 crore for 3 years.
Gujarat Mineral Development Corporation (GMDC) has entered into a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL). Gujarat Electricity Regulatory Commission (GERC) recently approved crucial amendments to the PPA of GMDC. These amendments governing the supply of 250 MW of power from the Akrimota Thermal Power Station (ATPS) between GMDC and GUVNL, mark a leap towards enhancing operational efficiency and sustainability.